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The oil ministry held a meeting with refiners on Thursday, urging them to scout for alternatives to Iranian oil, the sources said.

Oil prices rise after Saudi Arabia announces production cuts

Oil prices advanced steadily through Monday, with both Brent Crude and West Texas Intermediate seeing gains of more than...

12 Nov 2018 11:30 AM GMT

Trump remarks came as he signed new sanctions on Thursday targeting the Iranian-funded Lebanese militant group Hezbollah, which is considered a terrorist organisation by the US. (Photo: AFP)

'Toughest ever placed': US sanctions on Iran come into effect from...

Saudi Arabia is the only country with the capacity to make up for lost Iranian oil production.

5 Nov 2018 4:09 AM GMT

The ship, KOTI, was seized at Pyeongtaek-Dangjin port. (Photo: AFP/Representational)

When Iran exports fall after US sanctions, Saudi to open its oil tap

Saudi is only producer with significant spare capacity of around 2 million bpd that can be tapped to compensate loss of...

4 Nov 2018 8:07 AM GMT

Despite Opec sticking to its pledge to cut, inventories have continued to rise.

Opec worried about US shale flooding market

Oil prices edged higher after the report was released to trade above $69 a barrel and later steadied.

18 Jan 2018 8:35 PM GMT

Mr Putin said he expected the world oil market soon to be balanced.

As oil hits USD 70, warning lights flash up in Asia

World's biggest crude consuming region, Asia, is showing signs of an impending downward correction.

12 Jan 2018 8:36 AM GMT

Oil and Natural Gas Corp (ONGC) has become Indias first company to hold a meeting of its Board of Directors at high sea. (File Photo)

Oil prices close to mid-2015 highs, but doubts over further rises loom

US oil production has risen by almost 16 per cent since mid-2016, hitting 9.75 million bpd at the end of last year.

3 Jan 2018 5:19 AM GMT

Saudi Aramco, the worlds top oil company which is preparing to go public, said on Sunday it has appointed new members to its board including a female executive.

Oil slips after US rig count rises; Iran concerns cap downside

Brent crude futures, the international benchmark, dipped 39 cents, or 0.5 per cent, to $74.25 a barrel.

30 April 2018 5:41 AM GMT

Ever since the government came to power in 2014, experts pointed out that the lower crude oil prices over the last few years had helped the government to significantly improve Indias macro economic indicators.

Oil dips, but concerns persist about Iran supplies

Global benchmark Brent crude futures were down 13 cents, or 0.2 per cent, at $74.61 a barrel.

27 April 2018 3:12 AM GMT

Oil minister Dharmendra Pradhan on Sunday inaugurated Pradhan Mantri Ujjwala Yojana here on Sunday.

Govt will network with major oil buyers to negotiate with sellers

India will work to create a network with other major oil buyers in Asia, such as China, South Korea and Japan.

26 April 2018 8:58 AM GMT

Ever since the government came to power in 2014, experts pointed out that the lower crude oil prices over the last few years had helped the government to significantly improve Indias macro economic indicators.

Oil prices rise on concerns over supply disruptions

Brent crude oil futures LCOc1 were at 74.44 per barrel at 0105 GMT, up 44 cents, or 0.6 per cent.

26 April 2018 2:57 AM GMT

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Oil prices rise to USD 75 a barrel, highest since 2014

One of the factors limiting the oil rally is rising US production.

24 April 2018 11:24 AM GMT

Crude oil was trading higher 0.68 per cent to Rs 4,139 per barrel in futures market on Thursday.

Brent oil prices hit highest since late 2014 on supply cuts

Brent was still at $74.89 a barrel at 0109 GMT, up 18 cents, or 0.2 per cent from its last close.

24 April 2018 3:03 AM GMT